Real estate contribution to GDP (%)

Kenya’s real estate sector contributed Sh1.36 trillion to the economy in 2024, accounting for 8.4% of the country’s GDP, according to data from the Kenya National Bureau of Statistics.

This marks a steady decline from the peak of 9.4% recorded in 2018.

From 2014 to 2018, the sector maintained strong growth, hovering above 9%, but has since dropped, hitting its lowest point in a decade.

Experts link the dip to economic uncertainty, rising construction costs, reduced demand for office and retail space, and delayed infrastructure projects.

Despite the decline, real estate remains a key pillar of Kenya’s economy.